The Relationship between social media and Bitcoin - page 2.

slaman29

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Quote from: Nrcewker on July 02, 2023, 04:10:26 AM

We all know that Social Media is the boss to each and every news. 90% of our lives is controlled by the social media and our social media activities. The power of social media can be easily seen when Elon musk twitted about Dogecoin, and the price just boomed more than 100x in few mins. That’s the power of social media and influential people. Bitcoins can also be controlled upto certain extent in the similar manner, if a big personality wants to increase the price of the coin, then he will simply just do some posts about the coin, and the price will automatically go up.

Only if you let it. I saw how bad it was for me. 90%? I think maybe if you take away the time I eat, work, take shower, sleep, I was almost 95% social media. It slowly stole from my life and work. I took a strong decision and I cut myself off from social media, and life is better.

If you're thinking to use social media to try and trade or get news about crypto, it's a bad decision. Trust me as someone who's been there and done that.

Bitcoin, btw, can't be controlled by Tweets anymore. Unless idiots massively follow and do something nonsensical after it.

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Quote from: bayudndy on July 02, 2023, 12:00:04 PM

They support each other as well as compete with each other, but mainly social media has an impact on BTC, I find it always useful to spread information about it, but we can easily see bad and good news. appears a lot, sometimes it is intentional behavior to attract attention from a department towards the object they want. I know today that we easily access the internet as well as easily use social networks, I have noticed the age behavior of using social networks, when even the children in my family Only about 10 years old, they also know social networks and use them quite proficiently, it's really bad if they can read information about education, economy, politics, ... maybe part of the responsibility belongs to them about family. But through this I also want to say that not everything available on social networks is useful to us, so there should be more regulations on news censorship and ethical behavior in the process of using it our.

Social media does have the power to sway Bitcoin's market dynamics, which can have both positive and negative consequences. This is especially true given the susceptibility of inexperienced investors to misinformation.

However, I'd argue that the proposal for stricter censorship runs the risk of stifling the free flow of information, a pillar of both the internet and the cryptocurrency ethos. Rather than imposing restrictions, I propose a more educative approach, where the onus is on enhancing public understanding of cryptocurrencies.

As for your observation about young children's exposure to social networks, it is indeed a matter of serious concern. But rather than attributing blame to families, I think its an issue that society as a whole needs to address. It calls for a concerted effort to promote digital literacy, cyber safety, and responsible use of social media, thereby turning this challenge into an opportunity.

bayudndy

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They support each other as well as compete with each other, but mainly social media has an impact on BTC, I find it always useful to spread information about it, but we can easily see bad and good news. appears a lot, sometimes it is intentional behavior to attract attention from a department towards the object they want. I know today that we easily access the internet as well as easily use social networks, I have noticed the age behavior of using social networks, when even the children in my family Only about 10 years old, they also know social networks and use them quite proficiently, it's really bad if they can read information about education, economy, politics, ... maybe part of the responsibility belongs to them about family. But through this I also want to say that not everything available on social networks is useful to us, so there should be more regulations on news censorship and ethical behavior in the process of using it our.

riskarcher

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Each issue of good news and bad news about crypto always pop up first on social media and it's not only Bitcoin, including Altcoin was made impact on situation of market and we can see war issue between SEC and Binance. But what i see hype of cryptocurrency only we can see on twitter there are platform the real decentralize who can impact price of Bitcoin and Altcoin, i remember when Elon musk tweet about crypto it's really something new due to He is can manipulate each price on the market

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Quote from: dercfor on July 02, 2023, 04:09:21 AM

For a technology like bitcoin, it is very important that it gets hype through social media. This is because the technology is very new and it needs marketing.

No, I can not agree with you because some of the technology came before bitcoin technology where other technologies have not gotten the kind of firms bitcoin technology have not gotten, ordinarily social media is the most firm to make or advertise any of your technology to be more influence by different countries

Nrcewker

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We all know that Social Media is the boss to each and every news. 90% of our lives is controlled by the social media and our social media activities. The power of social media can be easily seen when Elon musk twitted about Dogecoin, and the price just boomed more than 100x in few mins. That’s the power of social media and influential people. Bitcoins can also be controlled upto certain extent in the similar manner, if a big personality wants to increase the price of the coin, then he will simply just do some posts about the coin, and the price will automatically go up.

dercfor

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For a technology like bitcoin, it is very important that it gets hype through social media. This is because the technology is very new and it needs marketing.

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Quote from: Bruce4 on June 28, 2023, 10:39:29 AM

Basically, what I'm trying to say is that social media is powerful,and its high time we understand that no matter how good or bad a post is,it has the potential to affect the market. Possibly, I believe social Media will play a significant role in Bitcoin's promotion, indulgence, maturation and exposure because of it's educational power.

It's already playing a role in Bitcoin adoption because it's from social media platforms like twitter that many individual are getting to know about bitcoin and other cryptocurency. Whenever Bitcoin trends on twitter is get exposures to new audiences that does research on what Bitcoin is about and might buy. Social media is a very powerful tools because we spent most of our time on them and get many of our decision been influence by social media.

Instead of search engines some individual now use social media for research. There were reports of TikTok been used to search for things more than google search as they get video explanation on TikTok. Bitcoin has a very good relationship with social media and that's why it's getting very popular.

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Quote from: Smartvirus on June 30, 2023, 07:10:42 PM

Quote from: darkv0rt3x on June 30, 2023, 06:56:26 PM

Elon Musk is not to blaim for his power. We are. All the ones following him are empowering him. He's just another retard regarding his crypto delusions. A guy that one day supports Bitcoin and accepts Bitcoin for purchasing his products and in the next day supports Doge or whatever he did, is just possible in a retarded person.
I unfollowed him since those times! If millions of people do the same, his power over Bitcoin will be zero, nil...

No doubt his powers with the media are as much as we have deemed it but, how could we not. I mean, his a successful person, an elite in the society and one of the very best. Most of all, he owns twitter and that’s some common grounds where the mighty and people of any status habit more often.

It’s not uncommon for people to crowd to him because, you hope to get something out of his knowledge and resource but that in turn has become more of a tool he could twist to his advantage. Make no mistakes, the masses amasses the wealth and that’s what we are, the masses.

I couldn't care less who he is. I can live very well without his influence. I'm not thinking to buy his products nor I need twitter or his tweets to live. So, unfollowing him was just as simple as clicking a button! And knowing he cannot be integer when it comes to the only trustable coin in existance, that is more than enough to lose my respect!

Quote from: SatoPrincess on July 01, 2023, 05:53:21 PM

Quote from: Smartvirus on June 30, 2023, 07:10:42 PM

Quote from: darkv0rt3x on June 30, 2023, 06:56:26 PM

Elon Musk is not to blaim for his power. We are. All the ones following him are empowering him. He's just another retard regarding his crypto delusions. A guy that one day supports Bitcoin and accepts Bitcoin for purchasing his products and in the next day supports Doge or whatever he did, is just possible in a retarded person.
I unfollowed him since those times! If millions of people do the same, his power over Bitcoin will be zero, nil...

No doubt his powers with the media are as much as we have deemed it but, how could we not. I mean, his a successful person, an elite in the society and one of the very best. Most of all, he owns twitter and that’s some common grounds where the mighty and people of any status habit more often.

Elon Musk caused a big stir in the market when he suddenly changed his tune from bitcoin to doge. I don’t think he was genuinely interested in bitcoin, afaik he only had exchanged some tweets with Michael Saylor at the time and said that he’s buying bitcoin, few months later he is saying bitcoin mining causes pollution.
Elon has a massive following and his followers will buy anything he promotes without doing their research, they have faith in the Elon because of his many successes and that blind faith causes them do act in a irrational manner.

Quote from: Smartvirus on June 30, 2023, 07:10:42 PM

Make no mistakes, the masses amasses the wealth and that’s what we are, the masses.

I’m not sure what you mean by the “masses amasses the wealth”, there are definitely more poor people in the world than there are wealthy folks. The poverty index across nations is rising every year, so forgive me if I don’t agree with you.

I even forgot that, about the pollution. How can a guy that creates so much indirect pollution when extraction lithium ore to produce batteries say that Bitcoin mining creates pollution??? He's just a retarded greed shit fuck. He knows very well that Bitcoin mining can even help the grid but he simply refuses to admit it just as any other powerful person that has interest in controlling energy resources!

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Quote from: CryptoHeadlineNews on July 01, 2023, 04:58:02 PM

Quote from: Bruce4 on June 28, 2023, 10:39:29 AM

Basically, what I'm trying to say is that social media is powerful,and its high time we understand that no matter how good or bad a post is,it has the potential to affect the market. Possibly, I believe social Media will play a significant role in Bitcoin's promotion, indulgence, maturation and exposure because of it's educational power.

Yes, I agree with you on this very statement of yours about social media playing a major role in the adoption and price movement of Bitcoin ever since it go launched in 2009, and still playing a vital role today in it's use case such as being a medium where people interact, share news, latest update or even learn about how to buy their first Bitcoin, because I'm a witness to one of those who got introduced into Bitcoin through social media many years ago, and it's been a wonderful experience ever since.

Social media has connected millions of people in different countries. They enable everyone to communicate in a centralized platform. With that social media has been one of the most powerful platforms in terms of advertisement and marketing because the different audiences are already available. With just one click, the adverts are getting published and everyone using the platform can view or be informed about it. I think social media even beats the main stream media in marketing in terms of number of people being approached. This is one reason why Bitcoin was promulgated even without the help of the mainstream media in its early years.

lalabotax

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Quote from: Bruce4 on June 28, 2023, 10:39:29 AM

Social media affects our lives in massive ways,in how we connect with our friends,the news we get,the interest we all share and possibly to actually kill time.so it's not surprising that the things people share on social media can affect the way things happen in the real world.
However,social media impacts has reached greater heights by the massive and increasing influence that it has on digital currencies like bitcoin.
The relationship between social media and bitcoin is expanding in exciting ways in terms of adoption,position,price/value and even the

There will be always bad and good impact on it. No wonder whatever it is on social media. we will really realize that Social Media is a very good platforms to promote or to introduced something to people generally. moreover right now, there are several social media that many people use the most. Many viral things happen in social media.
But when you are telling people on social media about Bitcoin or criyptocurrency in social media, we must be aware and ready with the feedback that we will getting. Because there sare also so many baad news about cryptocurrency. That is why wwe must have more efforts to make it good.

SatoPrincess

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Quote from: Smartvirus on June 30, 2023, 07:10:42 PM

Quote from: darkv0rt3x on June 30, 2023, 06:56:26 PM

Elon Musk is not to blaim for his power. We are. All the ones following him are empowering him. He's just another retard regarding his crypto delusions. A guy that one day supports Bitcoin and accepts Bitcoin for purchasing his products and in the next day supports Doge or whatever he did, is just possible in a retarded person.
I unfollowed him since those times! If millions of people do the same, his power over Bitcoin will be zero, nil...

No doubt his powers with the media are as much as we have deemed it but, how could we not. I mean, his a successful person, an elite in the society and one of the very best. Most of all, he owns twitter and that’s some common grounds where the mighty and people of any status habit more often.

Elon Musk caused a big stir in the market when he suddenly changed his tune from bitcoin to doge. I don’t think he was genuinely interested in bitcoin, afaik he only had exchanged some tweets with Michael Saylor at the time and said that he’s buying bitcoin, few months later he is saying bitcoin mining causes pollution.
Elon has a massive following and his followers will buy anything he promotes without doing their research, they have faith in the Elon because of his many successes and that blind faith causes them do act in a irrational manner.

Quote from: Smartvirus on June 30, 2023, 07:10:42 PM

Make no mistakes, the masses amasses the wealth and that’s what we are, the masses.

I’m not sure what you mean by the “masses amasses the wealth”, there are definitely more poor people in the world than there are wealthy folks. The poverty index across nations is rising every year, so forgive me if I don’t agree with you.

Alpha Marine

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Quote from: Husires on June 28, 2023, 01:02:38 PM

Bitcoin did not spread because of social media, but rather because it provided a solution to an economic problem, whose features began to appear in the year 2008 accompanying the mortgage crisis, urging that Satoshi did not pay much to promote this technology, unlike what is happening now, for example, TikTok paid more than a billion dollars in one year To promote and advertise, something that has not happened in the history of Bitcoin.

I kind of disagree with this.
Bitcoin was not advertised, but you can't deny the impact social media has had on Bitcoin.
Most people on this forum were never introduced to Bitcoin offline. Most, including me, first heard about Bitcoin from social media.
People saw the need to use Bitcoin and unknowingly started advertising it by talking about it. A lot of this "talking" was done on social media.
Two truths can co-exist; Bitcoin became popular because it was an innovation that provided a solution, also social media helped in the spread of Bitcoin.

Quote from: Husires on June 28, 2023, 01:02:38 PM

If your service is good and solves a problem, it will be lucky to spread for free.

This is also not entirely true. If this were true, multinational corporations won't invest millions of dollars in marketing alone.
No matter how good your service or product might be, you might still need to market it properly or else it will get nowhere.
The biggest companies in the world still advertise their products and services.
You can't use the exception of Bitcoin and a few other things to generalize this.
Please don't take that same energy to your business because you would most likely fail. companies like Nike and Google still investing heavily in marketing should tell you all you need to know.

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Quote from: Bruce4 on June 28, 2023, 10:39:29 AM

Basically, what I'm trying to say is that social media is powerful,and its high time we understand that no matter how good or bad a post is,it has the potential to affect the market. Possibly, I believe social Media will play a significant role in Bitcoin's promotion, indulgence, maturation and exposure because of it's educational power.

Yes, I agree with you on this very statement of yours about social media playing a major role in the adoption and price movement of Bitcoin ever since it go launched in 2009, and still playing a vital role today in it's use case such as being a medium where people interact, share news, latest update or even learn about how to buy their first Bitcoin, because I'm a witness to one of those who got introduced into Bitcoin through social media many years ago, and it's been a wonderful experience ever since.

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Quote from: The Cryptovator on July 01, 2023, 04:40:25 PM

Honestly, there exists a strong connection between cryptocurrency and social media. Without social media, I wouldn't have come across cryptocurrencies, and I believe that 99% of people have had a similar experience of discovering crypto through social media. The widespread adoption of cryptocurrency was primarily made possible through social media platforms. Therefore, social media plays a significant role in influencing the crypto market. It is through social media that we receive news and updates about cryptocurrencies quickly and easily.

we can't deny such fact that social media boost the scope of crypto adoption. we can't eradicate them in the continuous proliferation of news about this market, which for me, is actually good. there is good and bad publicity and we can't stop them from reading any news over these media outlets. it is now on the hands of the people how they will filter such information, if it is legit or not.
and just a very good example, when elon musk started to use twitter to say something about doge, btc or crypto in general, for sure, some of these non-crypto followers started to ask about bitcoin or doge or crypto, and eventually, some of them become crypto enthusiasts. so yeah, we can't discard the impact of social media in terms of adoption.

The Cryptovator

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Honestly, there exists a strong connection between cryptocurrency and social media. Without social media, I wouldn't have come across cryptocurrencies, and I believe that 99% of people have had a similar experience of discovering crypto through social media. The widespread adoption of cryptocurrency was primarily made possible through social media platforms. Therefore, social media plays a significant role in influencing the crypto market. It is through social media that we receive news and updates about cryptocurrencies quickly and easily.

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Quote from: bittraffic on June 28, 2023, 10:52:05 AM

The ICO guys learned all these a long time ago and they have been promoting new projects on social media sites. It's only now that regular people heard of BTC on mainstream media where BTC is now validated as a real investment. Social media serves as a platform for marketing projects.

Ico and the rest of the shit corners indeed made massive use of social media to promote their various sche and gain the attention of the mainstream populace, that is why they spend a lot on media promotion such as Twitter Facebook and Instagram promotion.

This promotion indeed helped to promote the entire cryptocurrency market in general but also it was a tool used by many of the scam teams to get to their gullible victims who were looking for investments that give 10x profits within a short period.

Quote

Most probably most people heard BTC for the first time on social media, not on TV or radio. The generation today doesn't even watch or read news on news sites but on social media.

When it comes to Bitcoin, the first thing that comes to mind when cryptocurrency is mentioned is Bitcoin so at that, so any promotion that involves cryptocurrency projects is also indirectly promoting Bitcoin as well.

mvdheuvel1983

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That which you wrote is accurate. The use of social media has increased global connectivity. It continues to be a tool for spreading propaganda, information, and the like. We rely on social media for the most recent and popular news and trends. That explains why we scroll endlessly on social media.

Social media has helped to grow the Bitcoin community and its user base significantly. People of different colors and socioeconomic backgrounds can be found talking about Bitcoin and sharing their individual experiences. It has been able to enhance Bitcoin usage from 2009 to 2023, which has led to a growth in market capitalization, which is one aspect of this that I appreciate.

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Quote from: KingsDen on July 01, 2023, 02:29:05 PM

It is undeniable that the internet has really helped bitcoin adoption. Bitcoin has no central authority and there is no fund being channeled for bitcoin promotion from anywhere, so the promotion of bitcoin lies in the hands of everyone. Bitcoin gains nice publicity in the internet during every bull run. This is the time that everyone and including newbies hear the testimonials of bitcoin and run into the bitcoin market.

We can conclude that social media interaction about bitcoin increases during the bullrun season because all eyes pay attention to the significant increase in the price of bitcoin, but some people like bitcoin because they understand the advantages of bitcoin and increase knowledge of crypto fundamentals without being affected by the bullrun season, so we must be enthusiastic about spreading bitcoin promotions to various social media to expand the connected crypto network to everyone in the world.

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But one funny thing is that many newbies at this period of time jump into the bitcoin market to buy the high, by the end of the cycle, bitcoin will dump on them and they will lose money.

Some beginners are interested in testimonials from other people's portfolio profits without wanting to learn market analysis knowledge to buy BTC at low prices, the determination of beginners wants to get the same profit as pro traders but they don't know the strategy to buy at low prices and also don't know the high risks of investing in bitcoin

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Quote from: armanda90 on June 30, 2023, 02:18:24 PM

Can't be separated the relationship between the media and Bitcoin, learned last three season when ICO project of cryptocurrency success sold out on public sell how enthusiastic promote on social media and make investor interested for investing there. Exactly has two impact and relationship between social media and bitcoin, when bad news publishing by media without few minutes price of bitcoin going drop. But instead when media publishing with positive news about bitcoin without few second bitcoin can reach up suddenly and looks fantastic the power of social media impact for bitcoin and cryptocurrency.

Hope one day later social media has good relationship with bitcoin and consistent publishing positive side and as soon possibilities hide with bad side from bitcoin.

Both Social Media and Bitcoin are non-regulated, while the former one can be controlled up to some extent by there owners there is no way anyone can control Bitcoin. Having said that I don't think social media positive or negative news has much impact on price of Bitcoin, since we have seen many time bitcoin price going up without any specific reason and vice versa. There is a huge community of analysts and motivational speakers on social media and we cant say they all will say positive about bitcoin in future.

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